Circumstances changed, I've told my lender....what next

jamielutz1987

Sorry, I have no experience of Lloyds, hopefully someone who has used them recently will comment.

There is an easy way to test if you will meet affordability based on solely your partner's income. Just talk to a broker and find out how much you can borrow on the basis of a single income. If you do meet affordability and there is a suitable lender/product, at least you have a backup to fall back on if the Lloyds offer is pulled for whatever reason.

[Deleted User]

What if they say no ? 

Either accept the advice you received on the phone and take it its fine
Or formally tell them and risk they pull the offer 
or tell them and its fine - your risk

Tigsteroonie

Would you have told them if you made this change 6 months after moving and starting payment? No, because nobody keeps thei rmortgage up-to-date with details of their employment changes. So if the lender says it's still approved, I'd take them at their word (whilst keeping a careful note of the date & time of that phone call so that you can refer back to it if necessary!)

Curious as to why you made the decision though - surely a job after six months unpaid is better than not having a job? Depends on the job I guess, whether it fitted around your care responsibilities or was becoming difficult anyway.

hopeful2020

Tigsteroonie said:

Would you have told them if you made this change 6 months after moving and starting payment? No, because nobody keeps thei rmortgage up-to-date with details of their employment changes. So if the lender says it's still approved, I'd take them at their word (whilst keeping a careful note of the date & time of that phone call so that you can refer back to it if necessary!)

Curious as to why you made the decision though - surely a job after six months unpaid is better than not having a job? Depends on the job I guess, whether it fitted around your care responsibilities or was becoming difficult anyway.

Well exactly.
It's just because they said keep it quiet.
Doesnt sit right. But why would they say that? Surely if the process was easy they would have said right ok let's get it amended. Theres so little information of the process on the internet. I'm wondering If they have said this because they know the checks have bin done. And if they do a credit check my credit is excellent and theres no changes as there is no change to our financial situation.
I feel torn between  the advice and from  the horror stories.

jamielutz1987

@hopeful2020 If you don't mind sharing the following info, you could get a fair indication of whether you would meet affordability based solely on one income

- house price

- mortgage amount

- partner's income £

- debt between the two of you

- dependents?

MovingForwards

@jamielutz1987 I already asked the questions so opinions could be provided as to viability.

jamielutz1987

MovingForwards said:

@jamielutz1987 I already asked the questions so opinions could be provided as to viability.

Apologies, I must have missed it.